US July business inventories +0.5% vs +0.5% expected

US inventory data for July

• Prior was +0.8%
• Inventories up 7.2% y/y
  
• Sales up 16.3% y/y
  
• Retail inventories +0.5% vs +0.5% prior
• Inventor/sales ratio 1.25
  

There's an extremely compelling case that inventory building will be a tailwind for many months ahead, perhaps even into 2023.

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September 17, 2021 at 02:01AM
Adam Button
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